Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Traditional Toys and Games in South Korea

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Executive Summary

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PROSPECTS

Declining growth

Traditional toys and games is set to record weaker retail value growth over the forecast period than that achieved over the review period when compared at constant 2017 prices. Younger children are likely to prefer video games rather than playing with traditional toys, with even scientific/educational toys being replaced by mobile games.

Licensed properties to continue to grow

Licensed traditional toys and games is set to record good growth over the forecast period, driven by TV cartoon characters. Sales of licensed properties are related to the exposure time of cartoons in the media to the target audience.

Shrinking families

The declining marriage rate is one of greatest concerns in South Korea, while the number of single-person households is set to continue to increase. The rapid growth in the costs of housing, the low employment rate, especially among the young, and growing costs of education are all factors in these trends.

COMPETITIVE LANDSCAPE

Young Toys takes the lead in 2017

The popularity of Beyblade enabled Young Toys Inc to overtake LEGO Korea in 2017. The Beyblade TV cartoon show is highly popular among youngsters and the company offers a variety of toys to suit children’s tastes.

LEGO Korea’s share declines

LEGO Korea witnessed its retail value share of traditional toys and games decline in 2017. Its series of Star Wars products such as Millennium Falcon were released in 2017 targeting kidults.

Market synergy between Mattel Inc and Sonokong Co Ltd

In October 2016, Mattel Inc acquired the stock of Sonokong Co Ltd to enhance its position in South Korea. Sonokong therefore obtained the exclusive distribution rights for Mattel toys in South Korea for two years and Mattel was able distribute Sonokong products abroad.

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